Chidambaram attacks PM Modi, asks for details of bad loans under NDA

Senior Congress leader P Chidambaram also questioned why the Narendra Modi-led government did not recall those loans, given by the previous government, which turned bad.

Hitting back at Prime Minister Narendra Modi for his remarks on loans given during the UPA rule, former finance minister P Chidambaram Sunday asked the NDA government to reveal the number of loans given by it which turned into non performing assets (NPA).

Senior Congress leader P Chidambaram addresses a press conference at the Pradesh Congress office. (PTI File Photo)

In a series of tweets, the senior Congress leader also questioned why the present dispensation did not recall those loans, given by the previous government, which turned bad.

“How many loans and how much that were given after May 2014 have become non-performing assets?,” he said.

Chidambaram said this question was asked in Parliament but there was no answer so far.

The Modi government had assumed charge in May 2014.

Addressing an event, the Prime Minister Saturday blamed the Congress-led UPA government for NPAs, saying action has been initiated against 12 large defaulters with a debt of nearly ₹1.75 crore, who were given loans before 2014.

Modi said work has been on to recover around ₹1 lakh crore from another 27 large loan accounts.

Chidambaram said even if it was assumed that the Prime Minister was right when he said that loans given under the UPA have turned bad, how many of those loans were renewed or rolled over (that is ‘evergreened’) under the present NDA government?

“Why were those loans not recalled? Why were those loans evergreened?,” he asked.